New Ismailia for Urban Development moves to profitability in 9 months

Updated 11/6/2024 1:46:00 PM
New Ismailia for Urban Development moves to profitability in 9 months

Arab Finance: New Ismailia for Urban Development Company (IDRE) registered EGP 7.383 million in net profits after tax in the first nine months of 2024, against net losses of EGP 171,614 during the same period of 2023, a disclosure revealed.

Operating revenues rose to EGP 9.086 million in the nine months to September from EGP 649,200 in the year-ago period.

Established in 2010, New Ismailia is an Egypt-based company listed on the EGX since June 2011. It operates within the real estate sector, with a focus on planning and establishing urban areas and developing infrastructure projects.

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